Second half playbook: Pros hunt for value

Discussing where the S&P 500 and the Dow will be by the end of the year, and the best stock picks now, with Mike Holland, Holland & Company Chairman, and Lee Partridge, Salient Partners CIO.

With the first half of 2014 coming to a close, investors are placing bets on how the second half of the year will unfold.

The S&P 500 outpaced the Dow the first half of the year, and some pros expect that gap to close as the Dow picks up steam.

"We think quality will come back into effect and a lot of the more stable companies in the Dow will start to really realize some of their stride toward the end of the year," said Lee Partridge, chief investment officer at Salient Partners, in an interview with CNBC's "Power Lunch."

Mike Holland, chairman of Holland and Company, agrees. He thinks the bull run will continue, and said investors hunting for yield should look to technology stocks.

However, Huntington Asset Advisors' Peter Sorrentino thinks we've already seen the best part of the year. He doesn't expect a huge selloff, but said the rest of the year will probably be just stock trading.

"We just don't see the earnings momentum going forward. Top line growth is really almost non-existent for a lot of industries. We think the consumer is really in the process of getting to roll over completely," he said in an interview with "Street Signs."

As the market transitions into the second half of the year, what can investors expect? Michael Crofton, Philadelphia Trust Company CEO, and Peter Sorrentino, Huntington Asset Advisors, give their best stock picks for your portfolio.

Michael Crofton, president and CEO of Philadelphia Trust Company, told "Street Signs" that the market is at an inflection point—transitioning from being almost totally dependent on the Federal Reserve's monetary policy to coming back to a more fundamental approach that depends on the economy itself.

"If you believe the economy is going to expand in the third and fourth quarter, which we do … then you have to position yourself in those sectors of the market that can benefit from that and that maybe haven't participated to this point," he said.

To that end, Crofton is looking at industrials and financials, and in the mid-cap sector and the upper end of the small-cap sector. Three names he likes are Susquehanna Bancshares, Manitowoc and Masco.